Regis Resources Limited (ASX: RRL) has delivered a standout December 2025 quarter with record cash generation and strategic mine life extensions. The Company produced 96.6koz of gold at an All-In Sustaining Cost of $2,839 per ounce while strengthening its balance sheet position.
Figure 1: Regis Resources Limited corporate logo and brand identity [Regis Resources]
Regis Resources quarterly report reveals cash and bullion holdings reached $930 million as at 31 December 2025, increasing by a record $255 million during the quarter. This came after paying $38 million in fully franked dividends and investing $115 million in capital expenditure across the portfolio.
Regis Resources Limited ASX RRL Maintains Strong Operational Performance
Regis Resources Limited ASX RRL operations performed in line with expectations during the December quarter. The Duketon Operations produced 57.6koz of gold at an AISC of $3,151 per ounce. Tropicana Operations delivered 39.0koz of gold at an AISC of $2,303 per ounce.
   
Figure 2: Group gold production by operation and All-In Sustaining Cost (AISC) trend from March to December FY25 [Regis Resources]
Gold sales for the quarter totalled 99.5koz at an average realised price of $6,436 per ounce. Total sale receipts reached $641 million. Operating cash flow for the quarter was $419 million, comprising $231 million from Duketon and $188 million from Tropicana.
Group AISC of $2,839 per ounce included a non-cash charge of $179 per ounce related to stockpile inventory movements. Duketon AISC included $226 per ounce of non-cash stockpile drawdown costs, while Tropicana included $110 per ounce.
Duketon Operations Feature in Regis Resources ASX Announcement
The Regis Resources ASX announcement highlighted solid performance at Duketon Operations. Open pit mining continued at King of Creation, Gloster and Ben Hur, delivering 13.6koz at 0.82g/t during the December quarter.
Garden Well and Rosemont underground mines delivered 32.0koz at 1.80g/t. Garden Well Main continues to progress towards achieving commercial production in Q4 FY26. Commercial production at Rosemont Stage 3 is expected in Q4 FY27.
Figure 3: Duketon Operations physicals and production metrics for the December quarter FY26 [Regis Resources]
Total underground development at Duketon was 3,896 metres during the quarter. Approximately 40 per cent was classified as capital development. The mills processed 2.12 million tonnes at 0.94g/t with metallurgical recovery of 89.7 per cent.
Growth capital expenditure at Duketon was $51 million during the quarter. This related to ongoing development of Garden Well Main and Rosemont Stage 3. Pre-commercial production expenditure continued at the Kintyre and Buckingham-Wellington open pits.
Tropicana Performance Boosts Regis Resources Quarterly Report Results
The Regis Resources quarterly report showed strong Tropicana performance during December 2025. Open pit mines delivered 18.8koz at 1.96g/t, in line with expectations. Underground mines delivered 17.4koz at 3.14g/t during the quarter.
Figure 4: Tropicana Operations (30% attributable) physicals and production metrics for the December quarter FY26 [Regis Resources]
Total underground development at Tropicana was 955 metres, with approximately 60 per cent classified as capital development. The mill processed 706kt at 1.91g/t with metallurgical recovery of 89.8 per cent.
Growth capital at Tropicana was $5 million as development of the Havana Underground progressed. Decline development remains on track according to the Company’s schedule.
Buckingham-Wellington Extension Highlights Regis Resources Limited ASX Growth Strategy
Regis Resources Limited ASX announced development of 251koz Ore Reserves at the Buckingham-Wellington open pit within Duketon North. This represents a significant expansion from the previous 128koz Ore Reserves estimate.
First ore from Buckingham-Wellington is scheduled for late FY26. Steady-state production build-up is expected in FY27 with consistent production continuing through FY31. This extends Duketon North Operation production through to the end of FY31.
McPhillamys Update Included in Regis Resources Limited ASX Filing
The Regis Resources Limited ASX filing provided updates on McPhillamys Gold Project developments. The Federal Court heard the Section 10 judicial review application from 10 to 12 December 2025. Judgment is currently reserved.
The Company continues to progress a dual-track strategy to return McPhillamys to an approvable status. Work has advanced on assessing the suitability of an Integrated Waste Landform incorporating co-disposal within the planned waste dump.
McPhillamys expenditure was $5 million during the quarter. All McPhillamys costs are now being expensed through the Profit and Loss account following the Section 10 declaration.
FY26 Guidance Retained in Regis Resources ASX Announcement
Regis Resources ASX announcement confirmed retention of FY26 production and cost guidance. Group gold production guidance remains at 350koz to 380koz for the full year.
All-In Sustaining Cost guidance stands at $2,610 to $2,990 per ounce for FY26. Group AISC guidance includes approximately $170 per ounce of non-cash stockpile movements.
Figure 5: FY26 year-to-date actual performance versus full-year group guidance for production, costs, and capital expenditure [Regis Resources]
Growth capital guidance remains at $220 million to $235 million for FY26. Exploration expenditure guidance was increased by $20 million to between $70 million and $80 million for the full year.
McPhillamys expenditure guidance remains at $10 million to $20 million for FY26. Year-to-date Group production stands at 187koz at an AISC of $2,850 per ounce.
Share Price Performance
According to recent trading data, Regis Resources shares closed at $7.570 on 22 January 2026. The stock trades within a 52-week range of $2.915 to $8.250 per share. Market
Figure 6: Regis Resources Limited (ASX: RRL) one-year share price performance to January 2026 [Australian Securities Exchange]
About Regis Resources Limited
Regis Resources Limited is an ASX-listed gold producer operating the Duketon Operations in Western Australia and holding a 30 per cent interest in Tropicana. The Company maintains a pipeline of organic growth opportunities across its portfolio.
Regis Resources focuses on operational excellence and capital discipline while investing in value-accretive growth. The Company maintains financial flexibility to pursue development opportunities and return capital to shareholders.
FAQs
Q1. What was Regis Resources Limited’s gold production in the December quarter?
 Ans. Regis Resources produced 96.6koz of gold in the December 2025 quarter at an All-In Sustaining Cost of $2,839 per ounce.
Q2. What is the Buckingham-Wellington open pit development?
 Ans. Buckingham-Wellington is a 251koz Ore Reserve development within Duketon North expected to be mined over six years.
Q3. What is Regis Resources’ cash position at December 2025?
 Ans. Regis Resources held cash and bullion of $930 million as at 31 December 2025.
Q4. What is the status of the McPhillamys Gold Project?
 Ans. The Federal Court heard the Section 10 judicial review application in December 2025, and judgment is pending.
